You are not legally required to use a solicitor when selling your house in the UK. However, it is highly recommended that you do so. The process of selling a house can be complex, and there are a number of legal documents that need to be completed. A solicitor can help to ensure that the process runs smoothly and help to protect your interests.
When you instruct a conveyancer when selling a property, you expect them to:
- Draft and negotiate the contract: The contract is a legal document that sets out the terms of the sale. It is important that this document is accurately drafted to protect your interests. Your conveyancer will be able to negotiate with the buyer’s conveyancer to ensure that the contract is fair.
- Arrange for a property survey: A property survey is an important step in the selling process. It can reveal any structural problems with the property that could impact the sale. Your conveyancer can arrange for a survey to be carried out, and they will also be able to negotiate with the buyer’s conveyancer if any problems are found.
- Handle the transfer of funds:The transfer of funds is one of the most important aspects of the sale. Your conveyancer will ensure that the funds are transferred safely and securely, and they will also chase up any late payments.
- Exchange contracts: Once the contract is agreed upon, it needs to be exchanged. This is a legal process that confirms the sale. Your conveyancer will exchange contracts with the buyer’s conveyance, and they will also arrange for the completion date to be set.
- Complete the sale: On the completion date, the ownership of the property will be transferred to the buyer. Your conveyancer will ensure that all the relevant paperwork is completed, and they will also transfer the funds to the buyer.
- Deal with stamp duty: Stamp duty is a tax that is payable on the purchase of a property. Your conveyancer will calculate the amount of stamp duty that is due and ensure that it is paid to the relevant authority.
- Deal with the Land Registry: The Land Registry is a government body that keeps records of all property ownership in the UK. Your conveyancer will update the Land Registry to show that the property has been sold, and they will also notify the local authority.
- Prepare transfer documents:Once the sale has been completed, your conveyancer will prepare the transfer documents. These documents need to be signed by both the buyer and the seller, and they need to be sent to the Land Registry.
- Deal with the mortgage: If you have a mortgage on the property, your conveyancer will arrange for the mortgage to be paid off. They will also notify the mortgage lender that the property has been sold.
These are just some of the tasks that a conveyancer will carry out when you sell your house. You save a lot of time and stress by using a professional to handle the sale. In addition, if there are any problems with the sale, your conveyancer will be able to resolve them on your behalf.
When Do I Pay Solicitors Fees When Selling My House?
For the most part, you will only pay your Solicitor’s fees when your house sale has been completed successfully. Some solicitors may charge an upfront fee to cover the cost of initial work, such as drafting the contract and carrying out searches. However, this is not always the case. You should agree on fees with your Solicitor before instructing them to act on your behalf.
Besides, you should always partner with trusted solicitors who are a member of the Conveyancing Quality Scheme (CQS). Top-rated London property solicitors such as AVRillo are accredited members of the Conveyancing Quality Scheme (CQS) and they can help you get the best deals on both property buying and selling. They are also rated as the top residential conveyancing solicitors in Plymouth, England.
As well as Solicitor’s fees, you will also need to pay for disbursements. These are costs that your Solicitor incurs on your behalf during the course of the sale. In addition to the disbursements discussed above, others include:
- Title deeds
- Property fraud fee
- Transferring of ownership
- Money laundering checks
- CHAPS fee
Your Solicitor will add these disbursements to their bill, and you will need to pay them in addition to the Solicitor’s fees. The average costs for them are seen below.
If the sale of your property falls through, you may be liable for some of your conveyancer’s fees. For example, if they have already carried out searches or prepared documents, you may be asked to pay for these.
What Happens if You Fail to Pay Solicitor Fees?
If you don’t pay your Solicitor’s fees, they may take legal action against you to recover the money that you owe. This could include instructing a debt collector or taking you to court. In addition, if you don’t pay your conveyancer’s fees, they may refuse to continue acting on your behalf. This could delay or even scupper the sale of your property.
It’s important to remember that you are legally obligated to pay your Solicitor’s fees. If you don’t, you could end up facing serious consequences.